The acquisition of Carrefour’s 34 superstores and eight supermarkets in Thailand will generate so-called synergies equivalent to about 1.2 percent of the combined 2010 estimated sales, Casinosaid yesterday. These include improved purchasing terms, rationalized distribution and higher efficiency in the greater Bangkok area, where Big C’s presence will more than double, the company said.

Big C said the acquisition will be financed from existing cash and debt.

“Big C is paying too much for Carrefour,” Bualuang Securities Pcl analyst Chaiyatorn Sricharoen wrote in a note to clients today. “Although management claims that the acquisition price is comparable to precedent transactions in Asia, we don’t believe Big C needs either know-how or branding from Carrefour, so it doesn’t make any sense to pay a comparable price. The company could generate a much higher return with this money.”

The Carrefour stores complement the geographical spread of Big C’s own shopping centers, the company said yesterday. The acquisition will add to Big C’s earnings as of 2011, and the synergies will be fully implemented by 2013, it said.